Weekend Loans Australia – Monzi Investigates

Weekend loans Australia are potentially available with amounts ranging from $300 to $10,000. Monzi’s lender-finder service potentially makes securing finance quick and convenient. One simple application and you could be matched with a lender in no time. If you’re looking for a bit of extra cash heading into the weekend, get started with Monzi today.

Monzi is a lender-finding service. We do not offer financial advice. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

Group of young people at party celebrating weekend loans Australia

What are weekend loans Australia?

Weekend loans are a form of personal loan that can provide you with extra cash to make your weekend a memorable one.

Lenders may be able to assess your application quickly so you can potentially have your cash before the weekend. Applications are 100% online and if it all goes to plan, you may have the cash in your account on the same day you apply.

Best of all, you get the cash you need to make your weekend a memorable one while being able to spread the cost over the upcoming months or even years.

If you need some extra cash for the weekend, Monzi has a network of lenders that are able to offer personal loans that range from $300 to $10,000. Submit an application and we’ll try to match you with a lender ASAP.

Monzi is a lender-finder service for all Australians

Navigating the world of online lending can be tricky but Monzi’s here to make it simple.

Monzi is one of Australia’s leading lender-finder services; we help everyday Australians looking to borrow find lenders potentially offering the loans they desire.

An application with Monzi can be submitted in minutes and we aim to match you with an available lender possibly in just one hour, if you apply during business hours.

At Monzi, we’re about simplicity and convenience. When you’re ready to get started, the loan slider at the top of the page makes it easy to apply for the loan you need.

What can I use weekend cash loans Australia for?

Put simply, you can use personal loans Australia to cover almost any personal expense. With a little extra cash in your pocket, the weekend provides the perfect opportunity to get out there and have fun or get something done.

To give you a few ideas of what you can do, maybe consider:

Household maintenance, jobs and projects

There’s always jobs around the house that need doing or a few projects you have in mind. A personal loan can help cover the costs so you can have the house looking as good as new. Some great examples include building a vegetable garden, redecorating or buying new white goods.

Consumers can even use their loan to cover a rental bond or moving costs.

A memorable night

Why not have a bit of fun with your cash? You could have a night out on the town or dinner and drinks at a fancy restaurant. After all, the weekend is the time to cut loose and relax.

A weekend getaway

If you are feeling adventurous, why not escape for a few days? Use weekend loans to cover your travel or accommodation costs. A quick getaway can be a great way to escape the daily grind so you can come back to work refreshed and ready to go.

Are weekend loans Australia right for me?

All of our users have different cash requirements. To ensure we can meet everyone’s needs, Monzi has established connections with an array of different lenders. These lenders offer a range of different loan products meaning there might be a lender out there to suit your needs.

It doesn’t matter whether you need a few hundred dollars, a few thousand or even something bigger, Monzi can help you find a lender offering the cash you need.

Some examples of weekend loans are listed in the following table.

Weekend cash loanAmount (AUD)
Payday loans weekend payout Australia$1,500
Weekend payday loans Australia$2,000
Weekend loans direct lender Australia$2,600

The information presented in the above table may not reflect the loan you’re potentially offered through our system.

When it comes to personal loans, your loan amount will fall into one of three categories. Each loan type will have different features so it’s worth knowing what kind of loan you will be applying for.

Small loans

  • Amounts ranging from $300 to $2,000
  • Typically repaid over 12 months
  • Unsecured

Medium loans

  • Loans from $2,100 to $4,600
  • 13 to 24 month repayment period
  • Secured loans

Large loans

  • Loans from $5,00 to $10,000
  • 13 to 24 month repayment term
  • Secured

If you’re looking for something larger, you may be eligible for a large secured personal loan between $10,000 and $30,000.

Finally, be aware that repayment terms vary between lenders. As a result, the terms you’re offered may not reflect what’s listed above.

Does Monzi know any lenders that offer bad credit weekend loans Australia?

We sure do.

Here at Monzi we are understanding of all circumstances, situations and backgrounds and we want to help. We also understand that bad credit can make it difficult to secure a loan through traditional avenues.

Luckily, we’ve been able to identify a few lenders who do things a little differently.

They look past your bad credit and take into account your income and expenses too. It’s all about assessing what’s affordable for you based on your current financial situation. You won’t be denied outright just because your credit history isn’t too flash.

Keep in mind that there are no guaranteed approvals. Lenders can approve or deny loans where they see fit. Bad credit loans may also attract higher rates given the additional risk assumed by the lender.

Payday vs personal weekend loans Australia

If you’re new to borrowing and lending, you may not be aware that there’s a difference between payday and personal loans. While they are similar, there are a few key differences. Notably, these differences centre around repayment periods and interest rates.

Looking first at payday loans, they are typically for your short-term cash emergencies. Payday lenders assess your application quickly so you can have an outcome in no time. Payday loans are usually repaid over shorter periods and attract higher interest rates and fees.

By comparison, personal loans typically come with more manageable interest rates and repayments that are spread out over longer periods. While a payday loan may be repaid over a few months, personal loan costs can be spread over one to two years.

At Monzi, we aim to match our customers with lenders offering personal loans rather than payday loans. If you are looking for a weekend payday loans Australia, you may need to do your own research.

Weekend loans online Australia

In days gone by, the only loan provider out there was the bank. You’d have to take time out of your day to meet with a bank employee and hope you get approved. How times have changed!

These days, there is a stack of online lenders out there. A quick google search will leave you inundated with lenders offering you the cash you need.

With so much choice out there, it can be tough to know where to get started. That’s where a lender-finder like Monzi comes in.

Rather than applying with each of the lenders yourself, you can submit an application with Monzi in minutes and potentially be matched with a licenced and available lender in just one hour.

From start to finish, the process is 100% online. Finding a lender has never been easier or more convenient.

Before applying with Monzi

Before applying, ensure you:

  1. Are 18 years or older
  2. Are an Australian Citizen or Permanent Resident
  3. Have an active email address and phone number
  4. Have earned a regular income for the three months prior to your application

The Monzi process

With Monzi, finding a lender involves three simple steps. It’s so easy you could almost do it with your eyes closed.

Step one – apply

Monzi’s loan slider at the top of the page makes selecting your ideal loan amount and repayment period easy. Once that’s done you’ll be prompted to fill in some personal details and then you can hit submit.

Step two – the waiting game

Once we have your details, our automated system tries to find an available lender that can offer the loan you’ve applied for. If you apply during business hours, we may have an outcome for you in just 60 minutes.

Step three – outcome

While we cannot provide any guarantees, if we are able to find a lender for you, we’ll let you know via text or email. Following that, the lender will get in touch to complete their assessment of your application.

Assessments and responsible lending

In Australia, all loan applications will have to undergo an assessment in order for lenders to comply with their responsible lending obligations.

These obligations are based on the premise that lenders must not enter into a credit contract that is unsuitable for the consumer.

To meet their obligations, lenders must do three things.

  1. Make reasonable inquiries into their customer’s financial situation.
  2. Take reasonable steps to verify the customer’s financial situation.
  3. Make a final decision as to whether or not the loan is suitable.

If you come across lenders advertising guaranteed approval, be wary. Not only are they potentially circumventing the law, but they may be taking advantage of you. The responsible lending laws exist to protect you as the consumer to make sure you get a loan you can afford.

More information on responsible lending can be found on the Australian Securities and Investments Commission website.

What goes into a weekend loans Australia assessment?

In order to meet their responsible lending obligations, lenders need to look into your complete financial situation. While all lenders will do assessments slightly differently, in most cases they’re looking at a few similar things.

  • Creditworthiness: Lenders may conduct a credit check because after all, past behaviour is the best predictor of future behaviour. Creditworthiness is essentially a measure of your borrowing power, based on how likely you are to repay your loan.
  • Your financial situation: What current sources of income do you have and what are your expenses? This gives your lender an idea of your budget.
  • Your requested loan and repayment period: With an idea of your budget, lenders analyse your loan details to see how it would fit in. Ultimately, they want to see if the repayments would be affordable for you.

What do I need to ensure a smooth assessment for weekend loans Australia?

While all assessments are slightly different, more often than not, the information you need to provide is the same. Make sure you have this information on hand before you get started to ensure your assessment is completed without delay.

Key details include:

  • Personal details
  • Contact information
  • Reason for loan
  • Online banking details
  • Proof of employment
  • Other details that may be relevant (e.g. medical information, welfare payments)

Do all weekend loans Australia include a credit check?

Credit checks are at the discretion of each individual lender.

All lenders have different approaches and procedures when it comes to completing assessments so we cannot say with certainty whether or not a credit check will occur.

What we can guarantee is that Monzi will not conduct a credit check on your application. We are simply a lender-finder service meaning assessments are outside the scope of what we do. We are simply trying to connect borrowers with lenders.

Furthermore, a credit check likely won’t be all there is to an assessment. Lenders will take a look at your complete financial situation in order to get an idea of what’s affordable for you. A few mistakes in your past won’t necessarily result in your application being denied.

So, while some lenders may offer weekend payday loans no credit check Australia, Monzi cannot provide any guarantees. Lenders will simply complete their assessment according to their procedures.

What should I think about when it comes to weekend cash loans Australia?

To give yourself the best chance of repaying your weekend loans on time and in-full, you need to consider all the relevant information. If you know exactly what you’re getting into, your loan shouldn’t get the better of you.

Ensure you consider:

What can I afford to borrow and repay?

Make sure you understand the balance between your income and expenses because your repayments need to fit comfortably in with your financial situation. Maybe make a budget and ensure you consider any major expenses that may be upcoming. If possible, find some ways to cut costs so you can borrow less.

What are the loan details?

When you receive your loan contract, take note of the key information. This will include the interest rate, your repayments, the repayment period as well as any other fees that may be applied. All the information you need will be included, it is, however, your job to find it and consider it before agreeing.

Who is the lender?

Make sure you do some research to ensure your lender is licenced, reputable and complies with their responsible lending obligations. All Monzi’s lenders will meet these criteria so using our lender-finder service can save you the time and stress.

Payday loans weekend payout Australia

While we all want a little bit of extra cash for the weekend, it pays to be proactive.

Weekend payouts are not always possible because while some lenders may offer them, others will only process your application during regular business hours and days.

Even if you are assessed and approved on the weekend, you may be required to wait until the following business day to receive your cash, given that most banks don’t process interbank transfers on the weekend.

If you’re heading into the weekend and need cash, try to apply early. Applying during business hours often results in quick outcomes meaning you can potentially have your cash on the same day you apply.

The cash is in your account before you reach the weekend so you don’t have to waste your Saturdays or Sundays submitting applications. Instead, you can focus on doing the things you want to be doing.

What can Monzi do for you?

There’s no doubt that our service makes finding lenders a breeze. If you’re not yet convinced though, there are a few other benefits that maybe you hadn’t yet considered.

Quick applications and outcomes

At Monzi, we place a focus on the key details in order to streamline our application process. We’ve made it so simple that you may be able to apply in minutes.

From there, we’re looking to provide you with quick outcomes. Our system will look for an available lender to potentially alert you to a match in just one hour. This is, however, dependent on you applying during business hours.

The lender you are matched with will also aim to provide you with a quick outcome. On the condition that you provide all the information that’s required, you may be able to get an outcome in just a few hours.

It’s a free service

It doesn’t matter if you apply for weekend loans Australia of $300 or $10,000. It doesn’t matter if you apply once or ten times. Your application with Monzi will never cost you a cent; that’s a great deal!

Great lenders

At Monzi, we’ve worked hard to ensure we have a network of quality lenders that we can connect our users with. While you’ll only be matched with one, we know that you’d get excellent service no matter which lender you deal with. All the lenders Monzi associates with are licenced and reputable and will lend money responsibly.

Transparent process

We’ve outlined the Monzi process so you know exactly what will occur at every step along the way.

This commitment to transparency is something that’s displayed by our lenders too. When you reach an agreement, all the details you need (i.e. rates, fees, repayments) will be clearly outlined to you in your loan contract. There won’t be traps or tricks that less reputable lenders sneak in to catch you out.

With Monzi and our network of lenders, what you see is what you get.

Your information is secure in our system

At Monzi, we’ve enlisted the services of internet security providers Comodo and McAfee to ensure your information is always safe and secure. It’s natural to worry about where your information but with Monzi, your details will be viewed only by those who need to see it.

For further peace of mind, once we’ve accessed the copies of your bank statements we need, your login details are wiped from our system. You don’t have to worry about anything falling into the wrong hands.

Missed repayments and financial hardship

If you find yourself short on cash and unable to make a repayment, it’s important that you get in touch with your lender. While late repayments attract fees, if you get in touch early your lender may be able to waive the fee or institute a plan to manage the situation.

For a more serious change in circumstances, such as loss of employment, you may need to apply for financial hardship. Lenders have experience dealing with these situations and will be able to guide you through the process. Some issues in life are unavoidable and your lender will do what they can to help you navigate the situation.

Why was my application denied?

Monzi is unable to say why your application was denied because we do not conduct the assessment, lenders do. Not only that, lenders retain the right to approve or deny applications where they see fit, so it can be difficult to pinpoint exactly where your application went wrong.

For more information, it’s best to contact your lender directly. Lenders will be able to tell you which of the required criteria you failed to meet.

If there is one reason for optimism, remember that a denied application won’t follow you. If, in the future, your financial situation has improved and you apply again, your past application will not be considered. It is simply based on your financial situation at the time.

Contact us

Have something you’re not quite sure about? Feel free to reach out and get in touch. At Monzi, we are happy to answer any questions or concerns you may have.

The best way to contact us is via email. Direct your correspondence to hello@monzi.com.au and we’ll do what we can to get back to you as soon as possible. Keep in mind though that we’ll reply fastest during business hours.

For questions related to your loan, it may be best to conduct your lender. We cannot speak for other organisations so direct contact may be your best option.

Apply for weekend loans Australia

Lenders offering weekend loans are out there and Monzi can make finding them simple and convenient. Scroll to the top of the page and begin your application today.

Factor In

Costs

Two credit cards
Two credit cards

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000

Terms

12 months

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate

Loan amount

$2,001 - $4,600

Terms

13 months

24 months

Costs

48% annual percantage rate

67.41% comparison rate p.a.

Example

Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Interest Rate for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000

Terms

13 months

24 months

Costs

21.24% annual percantage rate

48% comparison rate p.a.

Example

Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Interest Rate for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.